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Subject:Word to Word acquired by Frame From:Judi Brody/FASTTAX <Judi_Brody/FASTTAX -dot- FASTTAX -at- CLRGATE1 -dot- FASTTAX -dot- COM> Date:Thu, 1 Jun 1995 14:58:31 EDT
This announcement was posted this on the framers list and evidently some
subscribers of this list aren't on the framers list also, as someone asked what
Word-to-Word was:
SUBJECT: FRAME TECHNOLOGY TO ACQUIRE MASTERSOFT -- ACQUISITION IS
CORNERSTONE FOR MANAGING DOCUMENT-BASED INFORMATION
DATE: May 30, 1995
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SAN JOSE, Calif.--(BUSINESS WIRE) -- Frame
Technology Corporation (NASDAQ: FRAM) -- publisher of the award-winning
FrameMaker document publishing software -- and Mastersoft, Inc. --
publisher of the award-winning Word for Word document conversion program --
today announced that they have signed an agreement for Frame to acquire
Mastersoft.
Under the terms of the agreement, Mastersoft will become a wholly-owned
subsidiary of Frame. Completion of the transaction is subject to certain
customary conditions and is expected to be completed by the end of June.
The transaction, which is intended to be completed as a tax-free
reorganization, will be accounted for as a pooling of interests. The total
consideration to Mastersoft shareholders is an aggregate of approximately
1,200,000 shares of Frame common stock in exchange for all of the
outstanding shares and options of Mastersoft capital stock.
The combination of Frame and Mastersoft marks a significant step in
Frame's plans for becoming a corporate standard for managing document-based
information.
"Frame and Mastersoft have complementary visions of providing customers
with the best tools for exchanging data and information over a variety of
platforms and applications," said L. George Klaus, Frame's chairman,
president, and chief executive officer.
Founded in 1986, Mastersoft, Inc. specializes in software tools that
provide conversion, viewing, and document comparison capability across
platforms, addressing compatibility issues at the system and application
levels. Frame has specialized in cross-platform authoring and viewing
solutions for business-critical and technical documents.
"By incorporating Mastersoft's technology, Frame will be able to extend
our capability to help our customers manage their document-based
information," explained Klaus. "In pooling our resources, we achieve
another milestone in Frame's strategy of enabling information contained in
word processing documents, e-mail messages, spreadsheets, graphics files,
and multimedia data types to be placed in a document repository so it can
be managed and re-used."
Mastersoft's technology provides many benefits, including conversion
software solutions that are sold in the retail market as well as licensed
to numerous OEM manufacturers of hardware and software applications. The
Mastersoft family of document utility software -- including Word for Word,
Viewer 3.1, and DocuComp -- provides powerful solutions for managing
documents and data while maximizing cross-application and cross-platform
interoperability. These products will be marketed through Frame's United
States and international channels. Frame, currently a Mastersoft customer,
will continue to incorporate Mastersoft technology into future Frame
products.
"Mastersoft's experience in file conversion, combined with Frame's
leadership in document authoring and on-line distribution, will provide
customers with an integrated architecture for managing document-based
information. Bringing Mastersoft into the Frame family fits our strategy
of buying `best-of-breed' value-added solutions," said William R. Pieser,
Frame's vice president of marketing.
Kent Mueller, CEO of Mastersoft, commented, "Frame and Mastersoft have a
common vision-enabling customers in heterogeneous computing environments to
access and re-use information contained in documents without having to
worry about the application originally used to create the information. We
are excited about the prospects of the combined companies. The fact that
Frame and Mastersoft products run on virtually any desktop computing
platform makes the two companies logical partners in providing integrated
document management solutions."
Frame Technology Corporation provides award-winning document creation,
management, and distribution software for individuals and workgroups.
Frame's products are widely recognized for their PC, Macintosh, and UNIX
cross-platform compatibility, enabling individuals, companies, government
agencies, and academic institutions to increase productivity by leveraging
their valuable business and research data. Internet users can access
Frame's World Wide Web documents at http://www.frame.com. Frame Technology
is located at 333 West San Carlos Street, San Jose, CA 95110.
Note to Editors: Frame, FrameMaker, and Frame Technology are registered
trademarks of Frame Technology Corporation. Mastersoft and DocuComp are
registered trademarks, and Word for Word and Viewer 3.1 are trademarks of
Mastersoft, Inc. All other company and product names are trademarks or
registered trademarks of their respective holders.
CONTACT: Frame Technology Corp. | Thomas F. Kelly, 408/975-6501
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Judi Brody
Dallas, TX
judi_brody -at- fasttax -dot- com
